China : Visa rate of textile quotas to EU & US surge

According to ‘textile quota visa issue rate’ announced on the January 24 that in less than one month, the visa rate of some textile quotas for exports to the EU has reached 17.73 percent.

Insiders are worried about the visa issue speed. According to this issue rate, some popular types of textile quotas to Europe and the US may be exhausted in the first half of this year, and the rapid growth could lead to instability in exports.

Particularly, EU textile agreement is to expire by the end of this year, EU textile quotas in 2007 are likely to be used up in a ‘rush’ of seizing customs priority, some products to be shipped in the second half of the year may face the situation of being unable to go through customs clearance, and have to wait until January 1, 2008, after EU abolishes quota restrictions.

But the surge in the first half of this year could lead to new trade frictions.

On January 24, the visa issue rate of one-piece dress for export to EU reached 17.73 percent. According to this visa issue rate, this category may be exhausted by end May or early June.

The visa issue rate of cotton knit shirts for export to US reached 12.89 percent, which is expected to be used up by end May or early June. Visa issue rate of cotton trousers for export to US reached 15.71 percent, which is expected to complete by end May or early June. Visa issue rate of swimsuit for export to US reached 12.07 percent, which is expected to be exhausted in July.
 
Fibre2fashion, News Desk - China